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FinancialNews
30-03-19
Morocco granted USD300m AfDB loan
(MENAFN) Morocco is receiving more than USD300 million in loans from the African Development Bank (AfDB) in order to back its industrialization initiative.
In a statement MAP news agency cited, AfDB confirmed that the loan is expected to ease funding initiatives small and medium-sized businesses are encouraging.
AfDB country manager in Morocco Leila Farah stated "this operation will help improve Morocco's industrial competitiveness and strengthen its integration into African and global value chains."
Farah further added that following the loan, the bank would see its total funding ever since 2017 reach roughly USD483 million.
MENAFN3003201900450000ID1098322084
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